israel and the palestinians moving closer to all-out war. dozens of rockets, as you see here, bombarding southern israel this morning, after israeli aircraft, tanks, and navy gun boats pounded the gaza strip. at least three israelis were killed in the violence. wednesday, israel killed the military commander of the palestinian militant group, hamas. he was in the car you see there exploding. in response, hamas warned that israel has, and i quote, opened the gates of hell, end quote. >>> meanwhile, new trouble in the middle east is already affecting the stock market. let's get right to week end "gma" anchor bianna golodryga with the latest here. good morning, bianna. >> reporter: good morning. we're seeing the ripple effects. overseas markets took a hit today. on wall street, the dow begins the day at its lowest level since june after losing 185 points on wednesday. the violence in the middle east is driving up oil prices. and today, we learn europe is officially in a recession. of course, the real concern is the fiscal cliff jon karl was tal